Come up with a plan to

How to deal with money issues in a relationship

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Created: 26.08.2016
Author: Brian_Clinton
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Have weekly financial meetings . This is very important, and it’s a step that many couples overlook. Just because you have common financial goals and a plan and a system doesn’t mean that everything is fine. If one person takes responsibility for the finances, for example, and the other is out of the loop, then there will likely be problems down the road. I’ve known several couples like this — one partner took care of the finances and the other was blissfully ignorant … until it was revealed that they were way behind on payments and would soon have to file for bankruptcy.

That wasn’t a good time in their relationship. To prevent problems like this, have a weekly meeting where you sit down and talk about finances. You can review your accounts, your spending plan, what is coming up in the next few weeks that you’ll need to budget for, any problem areas, what to do with your annual bonus, where you are with your goals, and so forth.

Make sure you’re both caught up on everything, and that you’re working well as a team.

That’s the crux of this post, in two simple steps: learn how to talk about money, and learn to align your financial goals. If you can do those two things, you’ve done more than most couples, and you’ve done a lot to keep your relationship on solid ground.

Come up with a plan to meet your goals. Once you8217;re able to come up with common financial goals (a huge step 8212; celebrate!), you need a plan to get you there.

The point is that both sides should be considered, and you should look for a win-win solution or compromise so that you can both be happy. It might take a few meetings to get to actual written goals, with a timeframe for each, but that8217;s where you want to be eventually. Remove emotions from financial talk.

Above all, stay positive and be honest Have weekly financial meetings  .
Develop a system for finances that works for both of you. In order to put your financial plan into action, you8217;ll need to figure out how you8217;re going to pay your bills, pay debt, deposit into savings, have money for various spending needs (like gas and groceries and eating out), and so forth. Someone will have to take responsibility for each part of the system (it8217;s better if you8217;re both involved, but you should find what works best for you as a couple).

One of the biggest causes of problems in relationships is differences in values and goals and habits when it comes to money, and especially communication about money issues.

If you’ve ever been in a relationship for very long, especially if you were married or living together, I can almost guarantee that you’ve had a money fight.

Have weekly financial meetings . This is very important, and it’s a step that many couples overlook. Just because you have common financial goals and a plan and a system doesn’t mean that everything is fine. If one person takes responsibility for the finances, for example, and the other is out of the loop, then there will likely be problems down the road. I’ve known several couples like this — one partner took care of the finances and the other was blissfully ignorant … until it was revealed that they were way behind on payments and would soon have to file for bankruptcy.

That wasn’t a good time in their relationship. To prevent problems like this, have a weekly meeting where you sit down and talk about finances. You can review your accounts, your spending plan, what is coming up in the next few weeks that you’ll need to budget for, any problem areas, what to do with your annual bonus, where you are with your goals, and so forth.

Make sure you’re both caught up on everything, and that you’re working well as a team.

Come up with a plan to meet your goals . Once you’re able to come up with common financial goals (a huge step — celebrate!), you need a plan to get you there. This will take into account your joint income, your debt, your savings, how much you can put towards debt and/or saving each month, whether you want to cut back on certain things in order to meet your savings goals, how long you want to give yourself to meet financial goals, and so forth.

Start by having a definite timeframe for each goal, and then figure out how much you need to save (or pay towards debt) each month to get to your goals. Create a spending plan (if you haven’t yet) for each month, and see if you can adjust it to meet that monthly goal. You might need to cut back on some things, or earn extra income, or both. Or you might discover that your goals aren’t realistic and you need to cut back on them, reprioritize, or push them back a bit in order to meet them.

This plan to meet your goals is how you will align your daily and monthly spending with your long-term goals. It’s also a great way to resolve minor short-term disputes — you should definitely buy fewer shoes, and I should buy fewer video games, so we can buy that house in three years and travel to Europe in two years.

“We can tell our values by looking at our checkbook stubs.” -Gloria Steinem

Money can’t buy you love

In order to put your financial plan into action, you8217;ll need to figure out how you8217;re going to pay your bills, pay debt, deposit into savings, relationship money for various spending needs (like gas and groceries and eating out), and so forth.

Someone issues have to take responsibility for each part of the system (it8217;s better if you8217;re both involved, but you should find what works best for with as a couple). One person might go to the bank while the other updates your financial program (like Quicken or Money) or your money register to with sure you8217;re in balance, issues example. Deal weekly financial meetings. This is very important, and it8217;s a step that many couples overlook. Just because you have common financial goals and a plan and a system doesn8217;t mean that everything is fine.

If one person takes responsibility for how finances, for example, and the other is out of the loop, how there will likely be problems down the road. I8217;ve known several couples like this 8212; one partner took care of the finances money the other was blissfully ignorant 8230; until it was revealed that they were way behind on payments and would soon have to file deal bankruptcy.

That wasn8217;t a good time in relationship relationship.

And while I can’t claim that my
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      11.05.2016 Alex_Exmenetil:
      8221; -Gloria Steinem If you liked this article, please share it on del.

      11.05.2016 Orlando_Jackson:
      One person might go to the bank while the other updates your financial program (like Quicken or Money) or your checking register to make sure you8217;re in balance, for example. Have weekly financial meetings. This is very important, and it8217;s a step that many couples overlook.

      18.05.2016 OutBreak:
      You can review your accounts, your spending plan, what is coming up in the next few weeks that you8217;ll need to budget for, any problem areas, what to do with your annual bonus, where you are with your goals, and so forth. Make sure you8217;re both caught up on everything, and that you8217;re working well as a team.

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